SearchForum Home
  General  Discussions  Oil Takes $6-Pl...
 Oil Takes $6-Plus Plunge
 
 7/16/2008 4:52:50 PM
lmb
23 posts


Oil Takes $6-Plus Plunge

Oil dropped more than $6 yesterday thanks to mounting concern about the U.S. economy, Reuters reported.

The one-day drop of $6.44 is the largest since 1991, when prices lowered at the beginning of Operation Desert Storm, according to the news agency. U.S. crude reportedly settled at $138.75. 

Investors have been apparently worried about the demand for oil, with consumers using less gasoline due to high prices and a worsening economy.

  General  Discussions  Oil Takes $6-Pl...